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93 LPG newbuildings in 2015 worry Ultragas

Ultragas finished 2014 with a result that surpassed management expectations. But a doubling of gas newbuildings in 2015 is a cause for concern at the Chilean-controlled carrier.

Photo: Ultragas

Chilean-controlled Ultragas, headquartered in Denmark, turned the deficit from 2013 into a net profit of USD 3.4 million last year, according to the carrier's financial report.

Management is very pleased with the result, which is even better than it had hoped for or estimated in the budget. The Ultragas management had roughly projected a profit of USD 2.5 million, but better earnings in the Unigas pool were among the factors that helped pull the result up.

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